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The American president has announced that he is making inflation his national priority, and he proves it. Joe Biden says he could lift tariffs on imported Chinese products.
This is Joe Biden’s puzzle: galloping inflation, nearly 8%, a record for more than 40 years in the United States. Soaring rents, energy prices, consumer goods. So Joe Biden is considering a solution: to reduce taxes on Chinese products. In 2018 Donald Trump, declared champion of America First, initiated a trade war with China, dramatically increasing tariffs on many Chinese products.
Measures maintained by Joe Biden, which affect the equivalent of 350 billion dollars of goods per year. But today, the White House plans to reduce by several points the taxes on certain consumer goods, such as toys, household appliances, tools. This would allow American consumers to buy a little cheaper and therefore to fight against inflation. But according to economists, the impact would be limited.